Today at the State House: starting with the pension shortfall

Today is the day. South Carolina’s legislators return to the State House today for the beginning of the 2017-18 session.

Lawmakers have no shortage of issues to address during their four-month stay in Columbia, but the first item they will take up today is the pressure on the pension system for state employees.

A joint committee of House and Senate members are meeting to discuss how to plug the roughly $20 billion shortfall in the pension system. The State Fiscal Accountability Authority has already approved an increase in the amount employees have to contribute to their own retirement.

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